Great West Life Assurance Co. Can Has $3.25 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

Great West Life Assurance Co. Can boosted its position in shares of Old National Bancorp (NASDAQ:ONBGet Rating) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,719 shares of the bank’s stock after purchasing an additional 14,340 shares during the period. Great West Life Assurance Co. Can owned 0.07% of Old National Bancorp worth $3,254,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ONB. Raymond James & Associates raised its holdings in Old National Bancorp by 579.7% during the first quarter. Raymond James & Associates now owns 107,774 shares of the bank’s stock valued at $1,765,000 after buying an additional 91,918 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Old National Bancorp by 16.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 36,494 shares of the bank’s stock valued at $598,000 after buying an additional 5,032 shares in the last quarter. US Bancorp DE raised its holdings in Old National Bancorp by 420.6% during the first quarter. US Bancorp DE now owns 42,408 shares of the bank’s stock valued at $696,000 after buying an additional 34,262 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in Old National Bancorp by 34.5% during the first quarter. Cetera Advisor Networks LLC now owns 14,433 shares of the bank’s stock valued at $236,000 after buying an additional 3,701 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Old National Bancorp by 97.7% during the first quarter. Rhumbline Advisers now owns 953,125 shares of the bank’s stock valued at $15,612,000 after buying an additional 470,904 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Old National Bancorp Trading Down 6.2 %

Shares of ONB opened at $17.03 on Wednesday. Old National Bancorp has a 12-month low of $14.22 and a 12-month high of $20.19. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 16.07 and a beta of 0.85. The stock’s 50-day moving average price is $18.14 and its 200 day moving average price is $17.69.

Old National Bancorp (NASDAQ:ONBGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. Old National Bancorp had a return on equity of 10.06% and a net margin of 19.71%. The firm had revenue of $461.92 million for the quarter, compared to analyst estimates of $438.18 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 120.4% compared to the same quarter last year. As a group, research analysts predict that Old National Bancorp will post 1.97 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.56 annualized dividend and a yield of 3.29%. Old National Bancorp’s dividend payout ratio is 52.83%.

Analysts Set New Price Targets

ONB has been the topic of a number of recent analyst reports. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Royal Bank of Canada lifted their price objective on Old National Bancorp from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp presently has a consensus rating of “Hold” and a consensus price target of $21.67.

About Old National Bancorp

(Get Rating)

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

See Also

Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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